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East Asia and the Pacific Justin Yap Melissa Johns September 26, 2007. Doing Business indicators. 2007. 2008. 2009. Starting a business Dealing with licenses Employing workers Registering property Enforcing contracts Getting credit Trading across borders Protecting investors
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East Asia and the PacificJustin YapMelissa JohnsSeptember 26, 2007
Doing Business indicators 2007 2008 2009 • Starting a business • Dealing with licenses • Employing workers • Registering property • Enforcing contracts • Getting credit • Trading across borders • Protecting investors • Paying taxes • Closing a business • Update of 2007 • Add 3 countries • Reformer’s Club: • 11 case studies • Add Not paying bribes • Add Using infrastructure • Research program on regulations and business opportunities for women
Ease of Doing Business:The Top 30 • Singapore • New Zealand • United States • Hong Kong, China • Denmark • United Kingdom • Canada • Ireland • Australia • Iceland • Norway • Japan • Finland • Sweden • Thailand • Switzerland • Estonia • Georgia • Belgium • Germany • Netherlands • Latvia • Saudi Arabia • Malaysia • Austria • Lithuania • Mauritius • Puerto Rico • Israel • Korea
Top Reformer in 2006/2007: Egypt Egypt reformed in 5 of 10 Doing Business indicators
Benchmarking:What gets measured gets done • Simpler business entry in Brazil, Bulgaria, Burkina Faso, El Salvador, Ethiopia, Jordan, Lao PDR, Madagascar, Peru, Serbia, Syria, Timor-Leste, Yemen • Faster court enforcement in Jordan, Serbia, Poland, Tonga • Fewer licenses and approvals required in Poland, Niger, Netherlands • Improved investor protections in Mexico • Credit information improvements in Afghanistan, Chengdu (China). Georgia, Indonesia, Panama, Vietnam
ECA reformed the most—whileEAP is second to last Countries with at least one positive reform in 2006/2007
Eastern Europe surpasses East Asia in ease of doing business Average rank on the ease of Doing Business (out of 178 economies)
Business entry reforms =more businesses Business density (registered firms per capita) Business entry (new firms in % of registered firms) Easiest Most difficult Easiest Most difficult Countries ranked by ease of doing business, quintiles Source: Doing Business database
More Reforms →Higher Equity Returns 3-year shareholder returns Egypt Colombia Brazil Poland India Sri Lanka Venezuela Number of reforms, 2003-2006
…and more women entrepreneurs Female Entrepreneurs (% of entrepreneurs) Most difficult Easiest Countries ranked by ease of doing business, quintiles Source: Doing Business database, ILO
East Asia’s Ranking Singapore 1 Hong Kong, China 4 Japan 12 Thailand 15 Malaysia 24 Taiwan, China 50 Mongolia 52 Brunei 78 China 83 Vietnam 91 Indonesia 123 Philippines 133 Cambodia 145 Lao PDR 164
Pacific Region Rankings Australia 9 Fiji 36 Tonga 47 Samoa 61 Vanuatu 62 Kiribati 73 Solomon Islands 79 Palau 82 Papua New Guinea 84 Marshall Islands 89 Micronesia 112 Timor-Leste 168
EAP: Best region for ease of hiring Ease of Hiring Workers (0 = most flexible) Employing Workers Top 10 1. United States 2. Singapore 3. Marshall Islands 4. Georgia 5. Brunei (new) 6. Tonga 7. Maldives 8. Australia 9. Palau 10. Denmark (new)
East Asia and Pacific: Taxes are low Total Tax Rate by Region